please help with 1-4

Swim or Sink, Inc. (a swimsuit manufacturing company) purchased a piece of equipment on January 1, 2017 for $14,600,000. Management estimates that the equipment will have a useful life of eight years and a $3,400,000 salvage value. The depreciation expense recorded for tax purposes is computed using the double-declining balance method of depreciation. The company uses the straight-line method of depreciation for reporting purposes. The company's fiscal year from January 1 to December 31. Calculate the amount of depreciation expense for reporting purposes for the year ending December 31, 2021 (i.c., the full year of depreciation). Then calculate the amount of depreciation expense for tax purposes for the year ending December 31, 2021 (1.c, the 5" full year of depreciation). Use this information to determine the correct answers to the following two (2) questions: 1. Will a deferred tax asset or a deferred tax liability be created for the year ending December 31, 2021 as a result of the depreciation recorded for tax and financial reporting purposes? a. Deferred tax asset b. Deferred tax liability 2. According to the Double Declining Balance depreciation schedule that Swim or Sink, LTD used compute dpreciation expense for tax purposes, what was the ending book value of this piece of equipment on December 31, 2018? Record your answer as a dollar amount rounded to zero (0) decimal places, but do not include the dollar sign or any commas. 3. According to the Straight-Ling method of depreciation that Swim or Sink, LTD used compute depreciation expense for reporting purposes, what was the ending book value of this piece of equipment on December 31, 2020? Record your answer as a dollar amount rounded to temo (0) decimal places, but do not include the dollar sign or any commes 4. Assuming that the company's tax rate is 32%, what dollar amount (as an absolute value) will be added (if your answer to the prior question was "a") or subtracted (if your answer to the prior question was "5") to the deferred tax account on the December 31, 2021 balance sheet as a result of the depreciation timing difference? Record your answer as a dollar amount rounded to zero (6) decimal places, but do not include the dollar sign or any commas